Book Review: Main Street Millionaire by Codie Sanchez

If you’re looking for a different path to financial independence beyond saving aggressively and investing in index funds, Main Street Millionaire by Codie Sanchez offers a bold alternative: buying boring, cash-flowing small businesses.

In Main Street Millionaire, Sanchez demystifies the world of small business acquisitions, making a compelling case that ordinary people can build extraordinary wealth by acquiring what she calls “Main Street businesses.”

Main Street Millionaire stands out in the personal finance genre by focusing not on stocks, crypto, or budgeting apps but on laundromats, HVAC companies, car washes, and other often-overlooked small businesses.

Who is Codie Sanchez?

Codie Sanchez is a former journalist turned investor and entrepreneur who built her wealth by acquiring small businesses. She’s best known as the founder of Contrarian Thinking, a media company and community that encourages financial freedom through unconventional strategies. Sanchez has become a well-known figure in the financial independence space, especially among readers who value financial literacy, passive income, and a diversified approach to wealth-building.

She often shares her philosophy online: that you don’t need to be a Silicon Valley founder or Wall Street trader to achieve financial success, you just need to think differently.

Lessons From Main Street Millionaire

There are several powerful takeaways from Main Street Millionaire:

Boring Businesses Can Be Gold Mines
Sanchez argues that traditional small businesses (think plumbing, landscaping, or laundromats) are often ignored by investors but generate steady cash flow. These businesses aren’t flashy, but they offer something even more valuable: predictable, recession-resistant income.

Leverage Debt the Smart Way
Instead of avoiding debt altogether, Main Street Millionaire encourages using business loans or SBA financing to acquire profitable businesses. Unlike credit card debt, which drags you down, acquisition debt can be a tool to generate income and build equity.

You Don’t Need to Start From Scratch
Many aspiring entrepreneurs believe they need a groundbreaking idea or years of hustle to start a business. Main Street Millionaire challenges that belief by showing how you can skip the startup phase entirely by buying an existing business with a proven track record.

Systems and People Matter More Than Hustle
Main Street Millionaire stresses the importance of hiring good managers and building efficient systems so that the business doesn’t own you.

Think Like an Investor, Not an Operator
Instead of working in the business, work on the business. This mindset shift is crucial to creating wealth without burning out.

Criticisms of the Book

While Main Street Millionaire offers a fresh perspective, it isn’t without its flaws:

• Oversimplification: Some critics argue that Sanchez glosses over the risks and complexities involved in buying and operating small businesses. Finding a good business, securing financing, and managing staff can be a full-time job… not everyone is cut out for it.
• High-Risk for Beginners: Buying a business isn’t the same as buying index funds. There’s more at stake, and less margin for error. For readers new to personal finance, this strategy might feel overwhelming or too risky.

Should You Buy It?

If you’re someone who’s already comfortable with budgeting, investing, and saving, Main Street Millionaire offers a bold next step. It’s not a beginner’s guide, but rather a playbook for those looking to accelerate wealth-building beyond the basics.

For readers who are still paying off credit card debt or building their first $1,000 emergency fund, the advice may feel too advanced. In that case, stick to the fundamentals: automate your savings, invest in the S&P 500, and track your spending with a good budgeting app.

But if you’re ready to think bigger (and take calculated risks) this book is worth a read.

Final Thoughts

Codie Sanchez’s Main Street Millionaire challenges conventional financial wisdom in an engaging and practical way. It’s a reminder that financial independence isn’t just about cutting lattes or maxing out your Roth IRA, it’s also about seizing opportunities where others aren’t looking.

We believe in frugality, smart investing, and using your money as a tool for freedom. Sanchez’s book fits that philosophy, but from a more entrepreneurial angle. It’s not for everyone, but for the right reader, it could be a game-changer.

If you’re curious, grab a copy of Main Street Millionaire and see if owning a boring business might be your next wealth-building move.